Member Info for Flightman

Marinville,can't believe the vast sums spent on the Wheel,was it all spent on that? I very much hope the authorities investigate this whole debacle,I guess a handful have been handsomely rewarded.
Where's Marin hiding,the fat cat

Going to to be a blood bath Dan,not sure how you can value Challenger now,even the £300K blown on the Odyssey could well be lost.
Far to say every investment decision made by Mark has come to nothing.
I guess with all the parts liquidated that goes towards MS Chapt 11 bankruptcy.
Couldn't believe the amount of buys today,probably the worse day to take a punt on this,as it was reported by the court that the developers needed to finalise financing before the 23rd,in order to partake in the auction .

To even buy at 0.13p today,the writing was on the wall and now it indeed appears the project is dead in the water.
I guess those that did buy today will try to get out and salvage what they can tomorrow.
Noticed a pump earlier with cash shell et all,but now the company is in dire straights,the return of $3M,well that's not going to happen,the parts will be sold off,cheap as chips no doubt.
The market seldom lies,£324,000 Mcap,I guess that's about right ,but there is also debt with outstanding loan notes.
Feel sorry for those who invested at multiples of 0.13,a complete mess,and personally with such an aweful outcome for that initial $3m investment,I just can't see Challenger maintaining a listing .
Sad day I deed

Probably news on inability to raise finance,thereby unable to partake in the auction.

Should get news on whether the developers can partake in the auction,but that is dependant on whether they can get the finance,which up to this point they haven't.

Mar,I guess you're right in the sense that the business model wasn't right from the start,investing ,$3M into a project that you've got absolutely no control over.On the face of it just like all those other investors they never though a project of this magnitude in New York would ultimately fail.
From the inception the continual use of CLNs has decimated shareholder value to the extreme,so to that end Mark must take responsibility.
I just couldn't believe he invested £100K in SS,that was a huge mistake,and the subsequent £300K in the Dallas Wheel.
Reading the court directives,the developers needed to finalise funding otherwise they are not allowed to partake in the auction.
You just never know,miracles do happen,but certainly not looking great.
Odds on for an abandonment sorry to say.

Just rechecked court documents,it is indeed the 23rd of October that auctioning of the Wheel parts can commence.
The developers were required to finalise funding by that date in order to take part in the auction.
All sounds very complicated,but unfortunately it does look like there were no funding options for the developers,rather the lord mayor's office didn't budge on the bonds request.
So MS it appears will complete their bankruptcy chapt 11,
Huge amounts have been wasted here,some one needs to be brought to book,although it is unfair to blame Mark for this fiasco.

Any news? A couple of large sells gone through.

Not sure on the dates,but was it the 22nd October,latest funding deadline to engage in the auction of the wheel parts.
Perhaps Dan can confirm.

NAV is more or less Zero here with a massive cash burn,looks like like this will cease operations.
Doubt anyone in their right mind is going to plough millions into this before the end of October..

Well they're still not tweeting,rather not promoting routes.

Company tweets stopped 12 hours ago,

Looks like the wheel parts are going to be auctioned,would have thought if there was going to be a deal for funding they would have got it by now.
Who would be interested to buy the parts if the wheels abandoned though

Maybe Solenta Aviation will make a bid for the company.They are major shareholders and subscribed to £3M shares at 8p during the last fundraise.

Nice buys LA, you got them sub .75
Now for the pump.)

Always one or two given the heads up pre RNS,naughty Colin)

I believe they've got the IPPC,

MMs always get the RNS as I understand 5/10mins before retail.

Really wouldn't surprise me to see an Eufingest conversion RNS at anytime.

Dropped 12% at 1121,obviously MMs are hiding a large sell.
Good luck if you bought on the drop though,